Stocks Show Mixed Performance as Oracle's Decline Affects Tech Sector

Market Performance: The S&P 500 is down -0.34%, while the Dow Jones is up +0.59%, and the Nasdaq 100 has fallen to a 1-week low, influenced by Oracle's disappointing earnings and concerns over AI spending.

Jobless Claims and Trade Deficit: US weekly initial unemployment claims rose to a 3-month high of 236,000, indicating a weaker labor market, while the September trade deficit unexpectedly shrank to -$52.8 billion, the smallest in over five years.

Corporate Earnings: Q3 earnings season shows 83% of S&P 500 companies exceeded forecasts, with earnings rising +14.6%, significantly above the expected +7.2%, marking the best quarter since 2021.

Stock Movements: Oracle's shares dropped over -14% after missing revenue estimates, impacting AI-related stocks, while other notable declines included Oxford Industries and Lovesac, both lowering their earnings forecasts.